News: Parc Clematis accounted for 28.17% of August’s sales

According to reports, buyers generally remained price-sensitive and value-discerning, opting for projects near transport links and priced at affordable quantum.

Parc Clematis, the top selling private residential project in August, accounted for 28.17 percent of the 1,122 units sold last month.

Located at Jalan Lempeng, the 99-year leasehold development sold 316 units at a median price of $1,615 per sq ft (psf), reported Singapore Business Review citing Colliers International.

Some of the previously launched projects like The Florence Residences, Parc Botannia and Stirling Residences also moved units at a steady pace – a welcome news for property developers amidst an uncertain market.

“We note that sales velocity at some of the previously launched projects has picked up pace,” Colliers said in a note.

“One reason for this could be that as new launches come on the market at benchmark prices within their given localities, prices at earlier-launched projects may start to look attractive for some buyers, who have decided to take the plunge after comparing prices between the various projects.”

Florence Residences emerged as the second best selling project, with 122 units sold at median price of $1,438 psf. It is followed by Treasure at Tampines which sold 93 units, Parc Botannia (61 units), Parc Esta (47 units).